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Questions › CUET-PG › CUET-PG 2024 › Q8
4 marks, −1Microeconomics › Costs of production › Deriving cost functions and cost curvesModerateabout 1 min

CUET-PG 2024 Question 8: Costs of production

For a manufacturing firm, the cost function is given by C=q3+2q2+q+1C = q^{3} + 2q^{2} + q + 1C=q3+2q2+q+1. The marginal and average costs at q=10q = 10q=10 units are respectively given by

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For a manufacturing firm, the cost function is given by C = q³ + 2q² + q + 1. The marginal and average costs at q = 10 units are respectively given by (A) 300 and 100 (B) 340 and 125 (C) 341 and 121.1 (D) 328 and 110.1

Also written as: For a manufacturing firm, the cost function is given by C = q^3 + 2q^2 + q + 1. The marginal and average costs at q = 10 units are respectively given by

Costs of production has come up 83 times in 7 exams since 2006.

What this question tests

This question is on Deriving cost functions and cost curves, part of Costs of production in Microeconomics.

Working out cost curves from a cost function, a production function or a marginal cost schedule.

TestStop has 20 past-paper questions on this subtopic; the nearest in year are below.

  • GATE 2023 · Q59Consider the following short-run cost function: C(q) = 10q³-80q²+300q+50 At the minimum average variable…
  • IIT JAM 2022 · Q30The short-run production function is Q = 200 + 0.2L² - 0.0004L³. If the wage rate is Rs. 140 and labour L =…
  • IIT JAM 2022 · Q45The Total Variable Cost is TVC = x³ - bx² and the Total Fixed Cost is 848. The value of b for which Marginal…
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Question from the CUET-PG 2024 paper. Solutions are TestStop's own. Not affiliated with or endorsed by any examination authority.